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VOL. 123 | NO. 230 | Monday, November 24, 2008

Crye-Leike Launches Foreclosure Aid Effort

About a week ago, a woman called Ellis Rankin, an associate broker at Crye-Leike Inc., about one of his advertisements offering help with lease/purchase transactions and rental homes.

Stronger Banks Keep Opting Into Bailout Program

The impact that the U.S. Treasury Department’s capital purchase program will have on the banking landscape in Memphis is coming more clearly into view.

Delta to Trim Future US, International Capacity

ATLANTA (AP) – Nine days after announcing new overseas routes for 2009, Delta Air Lines Inc., the world’s biggest carrier, said in a regulatory filing Friday it plans to reduce future domestic and international capacity because demand for seats has slowed amid the global financial crisis.

Sleep Treatment Company Targets 24-7 Operations for Growth

Instead of relying solely on physician referrals, the sleep treatment company Opus Medical Management wants businesses to send fatigued employees to its clinics.

550 Jobs Cut as IP Closes Bastrop Mill

Citing the weak global economy and reduced, International Paper Co. has closed its pulp mill in northeastern Louisiana, terminating 550 employees.

Earthquake Study Shows Tenn. Would Suffer Greatest

MEMPHIS, Tenn. (AP) - A new federal study of the New Madrid Seismic Zone predicts Tennessee would see the highest level of damage if there is a 7.7 magnitude earthquake.

Bush Signs Jobless Benefits Extension

WASHINGTON (AP) - With no end in sight to economic bad news, President George W. Bush on Friday ensured that millions of laid-off workers will keep getting their unemployment checks as the year-end holidays approach.

Bankers' Survey: Little Confidence in Rural Economy

OMAHA, Neb. (AP) - A survey of bankers suggests the rural economy is still faltering and that there is little confidence that conditions will be better in six months.

Boeing Warns of Possible Layoffs in 2009

Boeing Co. may lay off some workers next year as part of an effort to cut costs in response to difficult market conditions and a slowing global economy, a company executive said.

GM to Extend Holiday Shutdown, May Cut Production

DETROIT (AP) - General Motors Corp. will extend its holiday shutdown or make other production cuts at up to 10 factories as it deals with a continued U.S. auto sales slump and fights to stay solvent.

Americans Still Giving Despite Economic Meltdown

SEATTLE (AP) - As more Americans turn to charity amid worsening economic gloom, operators of food banks and other aid groups are relying on the surprisingly resilient generosity of their neighbors and finding that even when times are tough, people still give.

Western Union to Eliminate 200 Jobs Worldwide

GREENWOOD VILLAGE, Colo. (AP) - Money-transfer agent Western Union Co. says it will eliminate some 200 jobs around the world, including management and staff, as a result of a "challenging economic environment."

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PROPERTY SALES 35 250 5,016
MORTGAGES 60 382 6,608
BUILDING PERMITS 179 720 11,979
BANKRUPTCIES 54 257 5,216

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The Memphis News: Business, politics, and the public interest.